A group of young filmmakers encounter a serial killer while shooting their first independent movie.

Lloyd and Harry are two men whose stupidity is really indescribable. When Mary, a beautiful woman, loses an important suitcase with money before she leaves for Aspen, the two friends (who have found the suitcase) decide to return it to her. After some "adventures" they finally get to Aspen where, using the lost money they live it up and fight for Mary's heart.

Frank Drebin is persuaded out of retirement to go undercover in a state prison. There he has to find out what top terrorist, Rocco, has planned for when he escapes. Adding to his problems, Frank's wife, Jane, is desperate for a baby.